A $2 million new equity financing has been recently closed by Pixelligent Technologies LLC, the award-winning development stage nanotechnology company. The company, with the University of Maryland’s incubator building as its headquarters, intends using the new funding for boosting existing and impending development of nanotechnology applications.

Founded in the year 2000, Pixelligent was named Maryland Incubator Company of the year in 2006. The company has received millions of dollars in federal grant funding under different programs. While the National Institute of Standards and Technology awarded it funds under their highly competitive Advanced Technology Program; the National Science Foundation funded it via the Small Business Innovation Research program.

Presently focused on developing innovative applications in optical lithography and nano-composites for the microelectronics and semiconductor markets, Pixelligent takes pride in its team comprising 10 esteemed PhD experts in nanotechnology, who have published more than 200 papers and articles.

The company’s investors, apart from the company’s management team, include urbane local angel investors, and a renowned west coast-based tech entrepreneur. The most recent cash infusion will help Pixelligent undertake reorganization costs, and help fund its current development initiatives and government programs in progress.

About the recently-raised funds, Pixelligent’s CEO Craig Bandes said: “To raise capital for a development stage company in the current economic environment is a true testament to the tremendous potential and importance of our technology.”